A leading drug development company with facilities spanning across more than 60 different countries. Founded in 1891, this client is one of the world’s seven largest pharmaceutical corporations, manufacturing products including vaccines for a variety of therapeutic areas, consumer products, and animal health products.
It was decided that our client would need to drastically cut manufacturing costs at an API processing facility located in a small town in County Wicklow, Ireland. With this large-scale downsizing taking place, the company sought the assistance of EquipNet to help find a final disposition for a high-end Agitated Vacuum Pan Dryer that was purchased but never put into use as many manufacturing projects were set to end.
The client needed to quickly recover as much as possible from the sale to aid them in the mission to cut costs at this plant. Though there was no specific deadline to have this item sold, it was imperative that the company recovered the maximum amount in proceeds.
In order to properly manage the expectations and needs of the client, EquipNet utilized its UK-based project manager to ensure all communications were handled properly. After a discussion on options, it was decided EquipNet would list the item on its online MarketPlace in efforts to maximize returns. EquipNet’s sales force immediately began working to identify potential buyers who had a need for this equipment.
EquipNet also featured this item in a European Processing Equipment e-mail campaign to maximize its visibility on the web, thus increasing the chances of locating a buyer.
Thanks to the combined efforts of EquipNet’s sales and marketing teams, we were able to locate a buyer. After the buyer visited our client’s facility to inspect the equipment, the final offer was received for $100,000, which our client did choose to accept. Though the final offer was 77% of the initial asking price, our client was very satisfied that EquipNet was able to identify a buyer and get the equipment sold for them within six months, helping to quickly recover proceeds.